Currency is almost a living organism in the world that we live it, as it is always changing, adapting, and evolving. As such, currency can be a tricky thing to understand in some cases. For instance, the most expensive currency does not necessarily make it the most powerful currency in the world. As of today, all currencies are compared to that of the US dollar, making it the dominating force in this situation, but what are the most expensive currencies when put into those terms?
To get to the bottom of that question, we will be looking at seven of the most valuable currencies in the world.
1. Kuwaiti Dinar ($3.29 USD)
Home to the highest and most valuable currency in the world, Kuwait is the small country that packs a bit of a punch. The GDP of Kuwait is half comprised of oil-based exports, and that alone can explain a great deal behind the wealth of the country. However, it does have a backup plan for when the time comes to walk away from the oil trade, as it has the second largest stock exchange among the Arab countries.
In today’s market, 1 KWD is equal to $3.29 USD.
2. Bahraini Dinar ($2.65 USD)
A very popular tourist destination, Bahrain gets quite a bit of kickback from tourism to bolster its oil exportation. Making the most of the natural resources found on the small island, as well as the revenue powerhouse that is the Grand Prix circuit found there, Bahrain has done very well for itself over the years. Naturally, this can be seen in the success of the Bahraini Dinar, which is the second most valuable currency in the world.
1 BHD is comparable to $2.65 USD.
3. Oman Rial ($2.60 USD)
The Arabian Peninsula country of Oman has no mystery behind the value of its Rial, however. The strategic location of the country affords the people of Oman a well-developed economy, as well as a high quality of life. It has one of the most valuable currencies in the world right now. While the economy is well diversified, Oman depends heavily upon oil exports, of which it is the 25th largest oil reserve in the world.
Today’s rating of the Oman Rial sets it at 1 OMR being the equivalent of $2.60 USD
4. Jordanian Dinar ($1.41 USD)
4 years following the country of Jordan becoming an independent nation, the Jordanian Dinar officially became the legal tender of The Hashemite Kingdom of Jordan. Unofficially, the valuable currency has become wildly used by the West Bank of the Palestinian territories.
The Dinar is one of the stranger world currencies, as the reasoning for it to be so valuable is a bit of a mystery. The country itself is not incredibly economically developed, and there aren’t really any natural resources to speak of. In any case, the Jordanian Dinar has become one of the more valuable currencies that can be found today.
As it stands currently, 1 JOD equals $1.41 USD.
5. British Pound Sterling ($1.30 USD)
Having once been the most valuable currency of the world, the British pound is simply not the power that it used to be, and may continue to devalue due to recent events in the world. Of course, currencies rise and fall on occasion, and there is no real reason to believe that the pound could not recover in time.
The UK was one of the only countries within Europe to not adopt the Euro, so the fact that the pound even still exists is a wonder.
As of today, the exchange rate of the Bristish pound sterling is rated at £1 being the equivalent of $1.30.
6. Cayman Islands Dollar ($1.20 USD)
As far as tax havens go, Cayman Islands is hard to beat. Providing authority to hundreds of banks, hedge funds, and insurance companies, it’s only natural that the currency of KYD would do well and be recognized as one of the most valuable currencies in the world.
Rated as the 14th largest GDP in to world based upon the PPP value, the Cayman Island Dollar is rated among the most valuable currencies in the world, and may continue to gain even more value as time progresses.
1 KYD is comparable to around $1.20 USD.
7. Euro ($1.12 USD)
After the US dollar, the Euro is the second most commonly traded currency in the world, as well as the second largest reserve currency the world knows. This is despite the fact that the Euro is still incredibly relatively young, having only came into existence in 1999. It is understandable, however, as the Eurozone countries utilize the Euro, as well as plenty of other European countries and even some African countries, too.
1 EUR is the equivalent of $1.12 USD.